Mark Medina of the Los Angeles Times (blog) reports:

Black Fives Inc., owners of trademarked logos commemorating vintage African American basketball teams, has withdrawn a federal lawsuit accusing the film company headed by Lakers star Kareem Abdul-Jabbar of trademark infringement in connection with his recent documentary, “On the Shoulders of Giants,” according to court records.

Even though Black Fives withdrew the lawsuit without prejudice on July 28, nearly four months after filing the case, owner Claude Johnson stated in an email that the decision stemmed from financial concerns over a lengthy court case. He kept open the possibility that the organization would refile the complaint, stressing that the “matter is not ’settled.’”

On behalf of Abdul-Jabbar’s film company, Union Productions, business manager Deborah Morales issued a strongly worded statement to The Times that condemned the lawsuit and questioned the validity behind it.

For much more, read here.